Consumers are more likely to use car loans

Figures from Statistics Netherlands show that the number of outstanding car loans has risen to over 150,000. In total, consumers who bought a car on credit owe USD 1,341 million to car dealers.

Number of car loans rises beyond 150,000
Number of car loans rises beyond 150,000

More and more consumers are buying a car where half of the purchase price does not have to be paid until a year later. Earlier , the Dutch Association of Financing Advisers (NVF) expressed all its concerns about the risks of a car loan, and in particular about the uncertainty of the actual interest paid by the consumer. The NVF therefore wants car dealers to be more transparent and clear about such a loan.

Despite the criticism of the NVF, 37% of all expiring loans (405,000) is now a car loan. In the first five months of 2012, the number of new loans issued through car dealers did decrease compared to the same period last year from 31,000 to 28,000. However, the average car loan has risen to US $ 12,000.

Published August 6, 2012 at 10:19 am by the editorial staff .

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